Depending upon the shape of the rental demand curve facing a durable-goods monopolist, social welfare may be raised or lowered by requiring the monopolist to sell, rather than rent, its output. Indeed, the equilibrium under rentals may Pareto-dominate the equilibrium under sales. Copyright 1989 by The London School of Economics and Political Science.
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Article provided by London School of Economics and Political Science in its journal Economica.
Volume (Year): 56 (1989) Issue (Month): 224 (November) Pages: 523-27 Download reference. The following formats are available: HTML
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